Opinion: Block's layoffs might just be the biggest story of a tumultuous week. Here's why

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In a week where the News Gods have given us a cornucopia of stories, it’s a fool’s game to pick out the biggest one.

Was it Trump’s extraordinary State of The Union? The phenomenal Nvidia results that failed to answer questions over whether the enormous hyperscaler splurge will result in significant profits further down the line? The rising tensions between Iran and the U.S.?

Let me play the fool for a moment, because I think the news from a medium-sized tech payments company might have longer term tremors and be a warning of societal upheaval far greater than other stories of the week.

Block, a $33 billion company, surged in extended trading on Thursday after cofounder and CEO Jack Dorsey, best known for cofounding Twitter, told the market he is laying off nearly half his workforce.